Petroleum Africa
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Tuesday, September 6, 2011
Senegal will see some drilling action over the next year according to the country’s state-run oil and gas firm Petrosen. A Bloomberg report said that officials from the country held talks with more than a few oil and gas firms this year in an attempt to entice investors into its petroleum sector.
Joseph Medou, a geologist from Petrosen told Bloomberg in an interview “If we make comparisons to what is happening in Ghana and Ivory Coast, to Sierra Leone, we think we have the same kind of plays.”
The country has had several seismic surveys conducted off its coast in the past few years, and just recently a contract went out to Bergen Oilfield Services (BOS) for a massive multi-client 2D survey that included Senegal. The NWAAM survey will encourage current licensees to re-evaluate existing interests in a regional context, as well as discovering new exploration leads, both a positive for Senegal.
FAR Ltd., one of the companies operating in Senegal holds the Rufisque, Sangomar, and Sangomar Deep offshore PSCs which cover an area of approximately 7,490 sq km. From previous seismic data on FAR’s acreage, estimates say there could be as much as 1 billion barrels of crude. The company is waiting for presidential approval before spudding its first well on the block.
Senegalalso has a stake in the AGC, an area jointly controlled by Senegal and Guinea-Bissau. One of the blocks in the AGC saw some drillbit action recently when the Kora-1 well was spud, unfortunately it was not deemed a success however, this does not have Senegal down, Medou is optimistic on the country’s potential. “Within three to five years, I think we will have at least something, a field that can produce, maybe even a big one,” Medou was quoted in the report.
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